Below is a chart of the AAII bulls dating back to the prior two tops. As you can see there were many time where bulls eclipsed 50% bullish in the previous 2 years before the Market hit a long term top.
In the present case, the compression of the bears over the last two years has built up rocket fuel for higher prices. The bears fumbled bigtime. This is the first time bullish sentiment has been over 42% in almost two years and bullish sentiment has not eclipsed 50% yet. I believe this is hinting we will see higher prices in the near future. In fact I believe we will gravitate towards this longterm downtrend line currently at 55%-ish and may even see a break through. I would not be looking to short this market until then.
Below is a monthly chart of the SPY ETF. RSI is curling up. MACD is crossing over up. A 2 year long consolidation of Price in a 35 point range would put the measured move to 2500 over the next couple years. I am looking to buy on pullbacks until the 40 Week MA (200 Day MA) does not hold.